DUBLIN--(BUSINESS WIRE)--The "Pain Management Devices Market by Product and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
The global pain management devices market was valued at $4,017 million in 2018, and is projected to reach $6,777 million by 2026, registering a CAGR of 6.7% from 2019 to 2026.
Pain management devices are medical devices, which are used in management of different types of pain such as neuropathic pain, cancer pain, nociceptive pain, and musculoskeletal pain. Spinal cord stimulators, transcutaneous electrical nerve stimulation devices, analgesic infusion pumps, and ablation devices are different forms of pain management devices available in the market.
Significant increase in prevalence of chronic pain, rise in geriatric population, surge in awareness among people toward pain management devices, and an increase in demand for pain management devices in developing region are the key factors that fuel the growth of the market. Moreover, availability of innovative pain management devices, surge in R&D activities to develop technologically advanced pain management devices, increase in availability of lower cost portable products, and development of the medical device industry across the globe are other factors that contribute toward the growth of the market.
However, hypersensitivity reactions and post-operative infections caused due to the use these devices limit their adoption. Moreover, they are usually used as second line of treatment in patients with chronic pain who become resistant to drug therapy, which hinders the growth of the market.
The pain management devices market is segmented into type, application, and region. By type, the market is categorized into neuromodulation & neurostimulation devices, analgesic infusion pumps, and ablation devices. Depending on application, it is classified into cancer pain, neuropathic pain, cancer pain, facial & migraine pain, musculoskeletal pain, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
- The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on the prevailing market opportunities.
- A comprehensive analysis of all the geographical regions is provided to determine the existing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global market.
- By product, the neuromodulation & neurostimulation devices segment held more than half share in the global market in 2018.
- Depending on application, the neuropathic pain segment held more than one-third share in the global market in 2018.
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.6% during the forecast period.
North America accounted for approximately one-half of the global pain management devices market share in 2018, and is expected to remain dominant throughout the forecast period. This was attributed to the higher adoption of pain management devices, higher number of target population, ease of access to innovative products, availability of well-developed healthcare infrastructure, and strong presence of key players.
- Increase In Prevalence of Chronic Disease
- Rise In In Geriatric Population
- The increase in the adoption of Pain Management Devices
- Preferable Use of Medications For Pain Management
Growth Opportunities In Emerging Markets
- Abbott Laboratories
- B Braun Melsungen AG
- Baxter International Inc.
- Boston Scientific Corp.
- DJO Global LLC.
- Johnson & Johnson (Codman And Shurtleff Inc.,)
- Kimberly Clark Corporation
- Medtronic Plc.
- Pfizer Inc.
For more information about this report visit https://www.researchandmarkets.com/r/g8vesl